Please use this identifier to cite or link to this item:
http://hdl.handle.net/20.500.11861/6417
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Prof. YEUNG Wing Kay, David | en_US |
dc.contributor.author | Petrosyan, Leon A. | en_US |
dc.date.accessioned | 2021-02-23T09:22:50Z | - |
dc.date.available | 2021-02-23T09:22:50Z | - |
dc.date.issued | 2013 | - |
dc.identifier.citation | Mathematical and Computer Modelling, Feb. 2013, vol. 57(3/4), pp. 976-991. | en_US |
dc.identifier.issn | 0895-7177 | - |
dc.identifier.uri | http://hdl.handle.net/20.500.11861/6417 | - |
dc.description.abstract | In the analysis of cooperative stochastic dynamic games a stringent condition–subgame consistency–is required for a dynamically stable solution. A cooperative solution is subgame consistent if an extension of the solution policy to a subgame starting at a later time with a feasible state brought about by prior optimal behavior would remain optimal. This paper considers subgame consistent cooperative solutions in randomly furcating stochastic discrete-time dynamic games. Analytically tractable payoff distribution procedures contingent upon specific random realizations of the state and payoff structures are derived. In computer modeling and operations research discrete-time analysis often proved to be more applicable and compatible with actual data than continuous-time analysis. This is the first time that a subgame consistent solution for randomly-furcating stochastic dynamic games has been obtained. It widens the application of cooperative dynamic game theory to discrete-time problems where the evolution of the state and future payoff structures are not known with certainty. | en_US |
dc.language.iso | en | en_US |
dc.relation.ispartof | Mathematical and Computer Modelling | en_US |
dc.title | Subgame-consistent cooperative solutions in randomly furcating stochastic dynamic games | en_US |
dc.type | Peer Reviewed Journal Article | en_US |
dc.identifier.doi | 10.1016/j.mcm.2012.10.009 | - |
item.fulltext | No Fulltext | - |
crisitem.author.dept | Department of Economics and Finance | - |
Appears in Collections: | Economics and Finance - Publication |
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